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Sasol Completes First Exploration Well in Block 16/19

Source: www.gulfoilandgas.com 11/20/2008, Location: Africa

Sasol Petroleum Sofala, a wholly owned subsidiary of Sasol Petroleum International, has completed its first exploration well, Njika-1, in Block 16/19 in Mozambique. The well is located in waters at a depth of 460 meters and was drilled to a total depth of 1615 meters. The well accessed the predicted targets and measurements indicate the presence of gas. The well is currently being tested. Lean Strauss, Sasol Group General Manager said Sasol was very pleased with the initial results.

"This is extremely encouraging news but we still need to complete a significant amount of work before we can establish the commerciality of this discovery," Strauss said.

"A development in the deep offshore areas of Mozambique will require large investments and gas finds have to be substantial in order to be economically viable. We will only be able to determine commerciality after extended testing and further appraisal work is done."

Sasol, as the operator, holds a 50% participating share in the license. Petronas hold a 35% interest, while the Government of Mozambique represented by its national oil company, Empresa Nacional De Hidrocarbonetos De Mozambique, E.P. (ENH) holds the remaining 15% interest.

Drilling of Njika-1 commenced on 1 October 2008. Sasol is planning a second well in the same license area immediately after completion of Njika-1. This exploration is a further development of Sasol's significant gas business in Mozambique. Sasol remains committed to adding value to the economy and the people of Mozambique.

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